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GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt (47402 Views)

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GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Nobody: 6:02pm On Jan 16, 2022
The Supreme Court has ruled in favour of Guaranty Trust Bank after it reversed its earlier decision which dismissed an appeal by GTB against a N2.4bn judgment given in favour of Innoson Motors Nigeria Limited by the Court of Appeal in Ibadan, Oyo State.

A senior official of GTB, who confirmed this to The PUNCH on Sunday, said, “Yes, the Supreme court ruled in favour of GTbank on Friday.”

A judgment delivered on Friday by a five-member panel, led by Justice Olukayode Ariwoola, held unanimously that the Supreme Court erred when, in a ruling on February 27, 2019, it erroneously dismissed the appeal marked: SC/694/2014 filed by GTB.

In the lead judgment, written by Justice Tijani Abubakar, but read on Friday by Justice Abdu Aboki, the court held that it was misled by its Registry, which failed to promptly bring to the notice of the panel that it sat on the case on February 27, 2019, and that GTB had already filed its appellant’s brief of argument.

The judgment was on an application by GTB seeking the re-listing of the appeal on the grounds that it was wrongly dismissed.

The Supreme Court said the panel that sat on the case on February 27, 2019, being notified of the existence of the appellant’s brief of argument, would not have given the ruling which dismissed GTB’s appeal on grounds of lack of diligent prosecution.

Relying on Order 8 Rules 16 of the Supreme Court’s Rules, Justice Abubakar, in the lead judgment, held that the apex court has the power to set aside its decision in certain circumstances, like any other court.

He added that such circumstances include where there is any reason to do so, such as where any of the parties obtained judgment by fraud, default or deceit; where such a decision is a nullity or where it is obvious that the court was misled into giving a decision.

Justice Tijani held that the circumstances of the GTB case fall into the category of the rare cases where the Supreme Court could amend or alter its own order on the grounds that the said order or judgment did not present what it intended to record.

“I am convinced that at the material time that the appellant’s appeal was inadvertently dismissed by this court, there was in place, a valid and subsisting brief of argument filed by the applicant.

“It will be unjust to visit the sin of the court’s Registry on an innocent, vigilant, proactive and diligent litigant.

“It is obvious from the material before us, that there were errors committed by the Registry of this court, having failed to bring to the notice of the panel of Justices that sat in chambers on the 27th February 2019 that the appellant had indeed filed its brief of argument.

“This is a case deserving of positive consideration by this court.

“Having gone through all the materials in this application, therefore, I am satisfied that the appellant/applicant’s brief of argument was filed before the order of this court made on the 27th of February 2019 dismissing the applicant’s appeal.

“The order dismissing the appeal was therefore made in error. It ought not to have been made if all materials were disclosed. The application is, therefore, meritorious and hereby succeeds,” Justice Abubakar said.

He proceeded to set aside the court’s ruling of February 27, 2019, dismissing GTB’s appeal and ordered that the appeal marked 694/2014 “be relisted to constitute an integral part of the business of the court until its hearing and determination on the merit.”

Other members of the panel – Justices Ariwoola, John Okoro, Helen Ogunwumiju, Aboki – agreed with the lead judgment.

PUNCH

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Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by AJOBI77(m): 6:06pm On Jan 16, 2022
The more you look.......

We need Legal experts in the house to give legal interpretation ooo

51 Likes 2 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Nobody: 6:08pm On Jan 16, 2022
Interesting

1 Like 1 Share

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by NaijaMutant(f): 6:35pm On Jan 16, 2022
The Supreme Court has ruled in favour of Guaranty Trust Bank after it reversed its earlier decision which dismissed an appeal by GTB against a N2.4bn judgment given in favour of Innoson Motors Nigeria Limited by the Court of Appeal in Ibadan, Oyo State.

The supreme court reversed its own judgement

Hope justice doesn't have a price ?

330 Likes 17 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Zchi1052(m): 6:35pm On Jan 16, 2022
I no even understand anything sef ...

35 Likes 1 Share

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by chloride6: 6:35pm On Jan 16, 2022
grin

3 Likes

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by NaijaMutant(f): 6:35pm On Jan 16, 2022
Justice for sale






The supreme court should also consider reversing it's judgement which declared Hope Uzodimma governor of Imo state undecided

381 Likes 20 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by NwaNimo1(m): 6:36pm On Jan 16, 2022
In the lead judgment, written by Justice Tijani Abubakar, but read on Friday by Justice Abdu Aboki, the court held that ......

It's official...................Sharia & Supreme court don merge!

[img]https://c./CeZXjqmiz28AAAAd/jaxandjake-smell.gif[/img]

....to hell with Nijeria!

228 Likes 10 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Mko123(m): 6:36pm On Jan 16, 2022
Hmm, best bank for students and others...

22 Likes 5 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by sammyj: 6:36pm On Jan 16, 2022
shocked shocked shocked shocked shocked
Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Ruggedniggaone: 6:36pm On Jan 16, 2022
Haaaa wahala
Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by UselessBuharist: 6:36pm On Jan 16, 2022
Innoson is Igbo, Buhari Supreme Court will never rule in his favour.

187 Likes 17 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by DEROX: 6:36pm On Jan 16, 2022
grin yoruba will always triumph over osus
same thing will play out in 2023 cause we dont chestbeat just action

134 Likes 24 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Ayomi90: 6:36pm On Jan 16, 2022
I already said this, no be by noise. They come online with joy shouting we will take over GTB, I look Dem I shake my head. cheesy grin

172 Likes 20 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Tennessee85: 6:36pm On Jan 16, 2022
Igbo marginalization.

53 Likes 10 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Dottore: 6:36pm On Jan 16, 2022
K
Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Nobody: 6:36pm On Jan 16, 2022
NaijaMutant:


The supreme court reversed its own judgement

Hope justice doesn't have a price ?

I doubt you read the article

52 Likes

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by smile11s(m): 6:36pm On Jan 16, 2022
wow that's a lot

1 Like

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by blamingthedevil: 6:36pm On Jan 16, 2022
It is over ,

God Bless Gt Bank
God Bless Innosson
God Bless Federal Republic of Nigeria

42 Likes 4 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by LibertyRep: 6:36pm On Jan 16, 2022
So the Supreme Court can set aside her own rulings?

Then Innonson can equally approach the Supreme Court again to set aside this new ruling and the cycle continues.

How come the AGF and IGP haven't helped judgement creditor on this case to effect the previous Supreme Court ruling.

Everyone is watching

125 Likes 4 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Ezemarcel(m): 6:37pm On Jan 16, 2022
Lol.... Nigerian things get as e beoo

The way gtb is charging me up and down,I'm sure if I sue them I will win but then who do I know.....

5 Likes

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Sunnycliff(m): 6:37pm On Jan 16, 2022
The one wey Innoson been win before nkọ, dem set am aside. Now fresh litigation starts. Not yet uhuru for GTBank.

If the supreme Court can set aside its ruling, while didn't they set aside supreme court governor rule of Hope Uzodinjo? Was that judgement not obtained by deciet

86 Likes 9 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by temmyyem: 6:37pm On Jan 16, 2022
Another Igbo vs Yoruba thread.

1 Like

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by chigator2: 6:37pm On Jan 16, 2022
Hc
Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by BlaqT: 6:37pm On Jan 16, 2022
ara
Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by chudez0147(m): 6:37pm On Jan 16, 2022
DamnNigga

1 Like

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by chigator2: 6:37pm On Jan 16, 2022
Mods, the title should be changed.

The Supreme Court didn't rule in favor of the GT Bank rather it repented from dismissing the case, the case will now be revisited.
No one gave GTB a free pass.

GTB is already hard hit by this case, it's valuation is now trailing behind Zenith Bank showing the lack of confidence by investors in such institution lacking transparency.

132 Likes 11 Shares

Re: GTB Vs Innoson: Supreme Court Rules In Favour Of GTB In N2.4bn Debt by Way4orward: 6:37pm On Jan 16, 2022
Next...

Some idiots are coming to fight tribal war.

2 Likes

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